IDEX (IEX) Gets a Buy Rating from Berenberg Bank

In a report issued on February 6, Berenberg Bank from Berenberg Bank maintained a Buy rating on IDEX (IEXResearch Report), with a price target of $275.00. The company’s shares closed last Monday at $197.98, close to its 52-week low of $190.95.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for IDEX with a $245.50 average price target, representing a 24.0% upside. In a report issued on February 2, Robert W. Baird also maintained a Buy rating on the stock with a $233.00 price target.

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IDEX’s market cap is currently $15.05B and has a P/E ratio of 33.69.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IEX in relation to earlier this year. Most recently, in November 2021, Livingston Satterthwaite, a Director at IEX sold 3,530 shares for a total of $831,421.

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IDEX Corp. engages in the provision of engineering solutions. It operates through the following segments: Fluid and Metering Technologies; Health and Science Technologies and Fire and Safety or Diversified Products. The Fluid and Metering Technologies segment involves in the design, production, and distribution of displacement pumps, valves, flow meters, injectors, and fluid-handling pump modules and systems. The Health and Science Technologies segment includes design, production, and distribution of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction, and drying systems used in beverage, food processing, pharmaceutical, and cosmetics, pneumatic components, and sealing solutions. The Fire and Safety or Diversified Products segment consist of production of firefighting pumps and controls, apparatus valves, monitors, nozzles, rescue tools, and lifting bags for the fire and rescue industry. The company was founded on September 24, 1987 and is headquartered in Lake Forest, IL.

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